Invest in Ontario, says its Premier to Indian companies

Wynne, who is here mainly to attend Global Business Summit later this week, also evinced interest in cooperation in sustainable development.

PTI|

Updated: Jan 28, 2016, 05.26 PM IST

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Ontario's Premier Kathleen Wynne, who is on a visit to encourage Indian companies to invest in her province.( Representative Photo)

NEW DELHI Canada's major province Ontario has invited Indian companies to invest there, saying it has competitive corporate tax rate, strong financial sector and a talented workforce besides being a gateway to USD 20 trillion North American market.

Ontario's Premier Kathleen Wynne, who is here on a visit to encourage Indian companies to invest in her province, identified Information and Communications Technology, life sciences, agri-food, auto and film sectors as possible areas for business.

Wynne, who is here mainly to attend Global Business Summit later this week, also evinced interest in cooperation in sustainable development and urban renewal projects.

She will also meet Prime Minister Narendra Modi to discuss "shared priorities and areas for future collaboration".

"Ontario and India have a lot in common. We not only share a commitment to invest in sustainable infrastructure and urban renewal projects, we also share an interest in developing our key business sectors," Wynne told PTI.

She observed that India is growing due to strengths such as a young and increasingly-educated population, established knowledge-economy sectors and ambitious plans to develop its social and physical infrastructure.

"There is much we can learn from each other, especially in sustainable development, clean technology and infrastructure," she said.

Presenting her province, which has a huge and vibrant capital in Toronto, as a perfect place for Indian investment, Wynne said, "Ontario's competitive and stable business environment makes it an ideal place for Indian companies to start a new business or expand an existing one.

"We are one of the world's best places to do business because we have a competitive corporate tax rate, a strong financial sector and a talented workforce."

She said investing in Ontario will also give Indian companies access to the USD 20 trillion NAFTA (North American Free Trade Agreement) market.